Alto Global Processing – How Consumers Pay: Adoption and Use of Payments

The Boston Fed has published a Working Paper entitled “How Consumers Pay: Adoption and Use of Payments“.

For the first time, we estimate the number of payment methods adopted by consumers conditional on having access to a bank account, as the unbanked consumers’ payment choices are much more limited than those of consumers with bank accounts. This paper follows the analysis in Schuh and Stavins (2010), but with improved data, allowing us to estimate a better model of payment behavior. As in the previous study, cost is found to significantly affect payment use, indicating that the recent increase in the cost of debit cards issued by some banks may lead to a reduction in U.S. consumers’ reliance on debit cards for transactions.

To see the full publication please visit : How Consumers Pay: Adoption and Use of Payments

For more information on this please feel free to contact Luca Bizzotto, CEO of Alto Global Processing

Please visit Alto Global Processing

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